pbpb
Level 1

how to deal with bogus 1099-INT

One of my banks has sent me 3 different 1099-INTs so far.  Only one of them correctly lists interest that I earned, and the bank claims they cannot even see the other two.  It appears that they do not know how to fix this.  I have no doubt that the bogus 1099's did come from the bank.  I also therefore assume that the bogus 1099s were sent to the IRS.  (The bank was spun off during the period, which is probably the cause of the screwup.)

 

How do I report the bogus 1009s in Turbotax?  My plan was to report them on the 1099-INT form, but also add an adjustment as "other" equal to the full amount of the bogus 1099.  Is there a better way to do this?  I want to avoid having to submit explanations using mail-in return.  Turbotax "review" claims I have low audit risk with a return including this adjustment.  The total amount is around $950, not some giant amount.

 

Thanks.

(tax year 2023)

turbotax deluxe on windows 10.